Stop parsing PDFs. Get the API. Request Access

AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Fresenius SE & Co. KGaA

Investor Presentation • Jan 19, 2009

166_ip_2009-01-19_39f9cc2a-6902-4f41-8634-087ecba4dff3.pdf

Investor Presentation

Open in Viewer

Opens in native device viewer

Cheuvreux – 8th German Corporate Conference

January 19, 2009

Safe Harbor Statement

NOT FOR DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA (OR TO U.S. PERSONS), AUSTRALIA, CANADA OR JAPAN, OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAW

THIS PRESENTATION IS FOR INFORMATION PURPOSES ONLY AND MAY NOT BE COPIED, FURTHER DISTRIBUTED OR PASSED ON TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE.

This presentation does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Fresenius SE ("Fresenius") or any present or future member of its group nor should it or any part of it form the basis of, or be relied on in connection with, any contract to purchase or subscribe for any securities of Fresenius or any member of its group or any commitment whatsoever. In particular, this presentation is not an offer of securities in the United States of America (including its territories and possessions), and securities of Fresenius may not be offered or sold in the United States of America absent registration under the Securities Act of 1933 (which Fresenius does not intend to effect) or pursuant to an exemption from registration.

This presentation contains forward-looking statements that are subject to various risks and uncertainties. Future results could differ materially from those described in these forward-looking statements due to certain factors, e.g. changes in business, economic and competitive conditions, regulatory reforms, results of clinical trials, foreign exchange rate fluctuations, uncertainties in litigation or investigative proceedings, and the availability of financing. Fresenius does not undertake any responsibility to update the forward-looking statements contained in this presentation.

Achieving Profitable Growth in Attractive Health Care Segments

Fresenius Group: Financial Results

l
S
a
e
s		 d
j
d
*
E
B
I
T
t
a
s
e
u
,		 i
N
t
e
n
c
o
m
e
,
d
j
d
*
t
a
u
s
e
/
Q
1
3
0
8
–		 €
8
7
6
1
m
,		 €
1
2
0
9
m
,		 €
3
2
4
m
h
G
t
t
t
t
r
o
w
a
c
o
n
s
a
n
t
e
n
a
e
s
c
u
r
r
c
y
r		 %
1
1		 9
%		 1
%
4
h
l
G
t
t
t
o
a
a
c
a
r
w
u
t
c
u
r
r
e
n
c
y
r
a
e
s		 %
4		 2
%		 9
%

* Group financial results before APP-transaction-related special items – for a reconciliation to EBIT and net income see attachments

Fresenius Group: Excellent Sales and EBIT Growth in all Business Segments

Q
3
/
0
8
1
–		 i
F
e
s
e
n
s
r
u
d
i
l
C
M
e
e
c
a
a
r		 i
F
e
s
e
n
s
r
u
b
i
K
a		 i
F
e
s
e
n
s
r
u
l
i
H
e
o
s		 i
F
e
s
e
n
s
r
u
d
V
e
a
m
S
l
a
e
s
h
G
t
r
o
w		 \$
S
8
9
0
U
7
m
,
0
%
1		 €
3
1
7
4
m
,
6
%
1		 €
6
8
1
5
m
,
6
%
1		 €
2
9
0
m
2
%
4
E
B
I
T
G
h
t
o
r
w		 \$
U
S
1
2
4
0
m
,
8
%		 €
2
9
0
m
2
0
%		 €
2
1
7
m
%
1
5		 €
1
4
m
2
%
7

Fresenius Kabi: Update Q1–3/08

  • Excellent organic sales growth of 9 %
  • EBIT margin of 16.5 % pre-acquisitions
  • APP acquisition:
  • -Closing achieved 1–2 quarters ahead of plan
  • -Financing steps successful
  • -Integration process fully on track
  • -Perfect platform for further growth
  • APP '08 anticipated financial results slightly above acquisition business plan

Fresenius Helios: Update Q1–3/08

  • Strong organic revenue growth of 5 %*
  • 140 bps EBIT margin expansion in established clinics to 9.6 %
  • Krefeld/Hüls hospital projects on track
  • 2008 privatization target fully achieved
  • 185-bed Mariahilf hospital (Hamburg) consolidated as of August 1, 2008
  • Two hospital privatization projects awarded in December 08
    • 834 beds
    • 46,300 admissions p.a.
    • € 136 million revenue in 2007

Fresenius Vamed: Update Q1–3/08

  • -Excellent sales growth of 24 %
    • Order intake +60 % Q3 vs. Q2; strong Q4 order intake expected
    • Orders of several large projects lead to sales and order backlog share of > 70 % in Europe

Fresenius Group: Accomplishments

    • Strong financial results
    • Accelerating organic sales growth in all business segments
    • xFY/07: 6 % – Q1–3/08: 7 %
  • -Benefitting from leading positions in non-cyclical markets with predictable growth
    • Significant acquisition and integration activity
    • Fresenius Kabi enters U.S. market, builds I.V. drug leadership position. U.S. market entry taking advantage of favorable FX
  • -Fresenius Medical Care strengthens renal pharmaceuticals business
    • Fresenius Helios on track for € 800 m acquired revenue target by 2010
    • x~€ 590 m3
    • Successful financing steps
  • Increased syndicated loan by additional \$100 million to \$3.05 billion end of November
  • -Capital increase and Mandatory Exchangeable Bond successfully placed
  • Credit rating unchanged

Fresenius Business Segments: Financial Outlook 2008 Raised or Fully Confirmed

l
d
i
d
O
g
u
a
n
c
e		 i
d
*
N
e
w
g
u
a
n
c
e
b
F
i
K
i
e
s
e
n
s
a
r
u
(
l.
h
l
)
A
P
P
P
i
t
e
x
c
a
r
m
a
c
e
u
c
a
s		 l
h
(
)
S
t
a
e
s
g
o
c
c
r
w		 1
2
1
5
%
–		 f
d
C
i
t
o
n
m
e
a
p
p
e
r
u
r
d
f
e
n
o
a
n
g
e
r
E
B
I
T
i
m
a
r
g
n		 1
6
5
%
~		 f
d
C
i
o
n
r
m
e
l
F
i
H
i
r
e
s
e
n
u
s
e
o
s		 l
S
a
e
s
E
B
I
T		 €
2
0
5
0
>
m
,
€
6
0
0
1
1
7
m
–		 €
2
0
5
0
2
1
0
0
m
–
,
,
f
C
i
d
t
o
n
m
e
a
p
p
e
r
u
r
d
f
e
n
o
r
a
n
g
e
d
F
i
V
e
s
e
n
s
a
m
e
r
u		 S
l
h
t
a
e
s
g
o
r
w
h
E
B
I
T
t
g
r
o
w		 0
%
5
1
–
5
1
0
%
–		 2
0
%
1
5
–
1
0
%
>
h
F
i
B
i
t
e
s
e
n
s
o
e
c
r
u		 E
B
I
T		 €
5
0
m
~
-		 €
4
5
5
0
t
o
m
-
-

* As of Q3/08 conference call

Fresenius Group*: Sales Outlook 2008 Raised

Guidance*

Fresenius Group guidance: excl. APP Pharmaceuticals and before special items

* As of Q3/08 conference call

Attachments

Fresenius Group: Profit and Loss Statement, Adjusted for APP Transaction-related Special Items

€
m		 Q
3
/
0
8		 Q
3
/
0
8
1
–		 Q
3
/
1
–
l
t
a
c
u
a
t
r
a
e
s		 0
8
Y
Y
o
t
t
c
o
n
s
a
n
t
r
a
e
s		 k
R
e
m
a
s
r
l
S
a
e
s		 3
0
5
1
,		 8
7
6
1
,		 4
%		 1
1
%		 O
i
h
7
%
t
r
g
a
n
c
g
r
o
w
:
E
B
I
T		 2
8
4		 2
0
9
1
,		 2
%		 9
%		 l.
I
€
2
n
c
m
f
i
i
A
P
P
t
t
a
m
o
a
o
n
o
r
z
b
l
i
i
t
t
n
a
n
g
e
a
s
s
e
s
l
I
t
t
t
n
e
r
e
s
r
e
s
u		 1
0
4
-		 2
7
1
-		 3
%		 4
%
-		 f
I
A
P
P
d
t
m
p
a
c
o
a
n
b
i
i
i
D
t
a
u
r
a
c
q
u
s
o
n
s
T
a
x
e
s		 3
1
1
-		 3
2
7
-		 0
%		 8
%
-		 T
3
4
9
%
t
a
a
e
x
r
:
i
N
t
e
n
c
o
m
e		 2
1
1		 3
2
4		 9
%		 %
1
4

Fresenius Group: Cash Flow

€
m		 /
8
Q
3
0		 /
8
Q
1
3
0
–		 Y
Y
o		 k
R
e
m
a
r
s
h
f
l
C
a
s
o
w		 3
5
1		 9
7
5		 9
%		 h
S
i
t
t
o
n
g
e
a
n
n
g
s
g
o
r
r
r
w
h
k
l
C
i
i
i
t
a
n
g
e
n
o
n
g
c
a
p
a
w
r		 9
6
-		 2
3
9
-		 --
f
O
i
C
h
l
t
p
e
a
n
g
a
s
o
r
w		 2
5
5		 3
6
7		 9
%
1
-		 M
i
8
4
%
a
r
g
n
:
C
(
)
t
a
p
e
x
n
e		 6
1
4
-		 9
6
4
-		 8
%
-		 O
k
f
f
l
l-
t
n
r
a
c
o
r
u
y
e
a
r
C
h
f
l
a
s
o
w
(
b
f.
i
i
i
d
d
i
i
d
d
)
t
a
c
q
u
s
o
n
s
a
n
v
e
n
s		 9
1		 2
0
4		 %
4
7
-		 G
d
i
u
a
n
c
e
A
i
i
i
t
(
)
t
c
q
u
s
o
n
s
n
e		 2
6
5
1
-
,		 8
2
7
5
-
,		 -- l
M
i
A
P
P
a
n
y
d
d
D
i
i
e
n
s
v		 1
7
-		 2
3
5
-		 2
3
%
-
h
f
l
F
C
e
e
a
s
o
r
w
(
f
d
d
d
d
)
i
i
i
i
i
t
t
a
e
a
c
q
s
o
n
s
a
n
e
n
s
r
u
v		 2
5
7
7
-
,		 2
8
7
0
-
,		 --

Special Items related to APP-Transaction – EBIT and Net Income Reconciliation

€
m		 E
B
I
T		 Q
1
3
–
i
i
l
F
n
a
n
c
a
l
t
r
e
s
u		 /
2
0
0
8
N
t
e
i
n
c
o
m
e		 h
C
a
s
l
t
r
e
e
v
a
n
i
d
j
d
E
t
a
r
n
n
g
s,
a
s
e
u		 1,
2
0
9		 3
2
4
h
d
*
P
i
j
t
t
t
c
a
s
e
a
c
c
o
n
n
g
a
s
m
e
n
s
u
r
u
u
:
&
I
R
D
n
-p
r
o
c
e
s
s
-
I
t
t
n
e
n
o
s
e
p
p
v
r
y
-u
-
F
X
i
g
a
n		 1
7
5
-
9
-
8
2		 1
7
5
-
5
-
2
0		 -
-
-
f
O
h
i
i
l
l
t
t
e
r
n
a
n
c
a
r
e
s
u
:
(
k
k
)
M
E
B
i
t
t
t
a
c
c
o
u
n
n
g
m
a
r
o
m
a
r
e
-
(
k
k
)
C
V
R
i
t
t
t
a
c
c
o
n
n
g
m
a
o
m
a
e
u
r
r
-
f


O
i
i
i
t
n
e
m
e
n
a
n
c
n
g
e
p
e
n
s
e
s
x
-
-		 3
8
-
3
6
3
2
-		 2
7
-
3
6
2
0
-		 -
-
(
3
)
i
d
i
S
G
E
t
U
A
A
P
a
n
n
g
s
a
c
c
o
n
g
o
r
r
-		 1,
0
5
3		 1
5
3

* Figures are indicative as the purchase price allocation is still provisional. Assumptions subject to change.

** In addition, € 67 m transaction-related financing expenses have been capitalized and will be depreciated over the life of the facility.

Fresenius Group: Debt and Interest Ratios

* Pro-forma APP acquisition and before special items

Transaction-related special items

    • Purchase accounting adjustments:
    • Currently valid US-GAAP accounting principles require full depreciation of acquired in-process R+D through the P&L at the closing of the acquisition. Under IFRS, acquired in-process R&D is capitalized and amortized over the expected life of the developed products.
    • The inventory step-up reflects the excess of fair value over book value of acquired semi-finished and finished products. The amount is capitalized and amortized in line with the sale of the respective products.
    • FX gain: Recent US-dollar strength increases the value of a US\$-intercompany loan to a Fresenius Kabi Pharmaceuticals Holdings, Inc. subsidiary, resulting in a book gain in the consolidated accounts.
    • Other financial result:
  • CVR (Contingent Value Right): The trading price of the CVR on the B/S date is considered as fair redemption value. Changes of this value are recognized in the P&L. Valuation changes will lead to quarterly gains or expenses until maturity.

Calculation as of Sept. 30, 2008: Δ between average of initial 5 days trading price of US\$ 0.97 and trading price at Sept. 30, 08 of US\$ 0.65 multiplied by 163.3 million CVRs = US\$ 52 million = € 36 million. In the B/S, the CVR liability was reduced from initially € 110 million to € 74 million.

  • MEB (Mandatory Exchangeable Bond): Mark-to-market accounting based on the Black-Scholes valuation model reflecting FMC's share price. Any change in fair value is recognized in the P&L. Valuation changes will lead to gains or expenses until maturity.
  • One-time financing expenses include commitment and funding fees for the bridge facility and the write-off of historic financing costs at APP due to refinancing of a 2007 syndicated loan.

Fresenius Kabi: Strong Sales Growth in Q1–3/2008

€
m		 Q
3
/
0
8
1
–		 Q
3
/
0
1
7
–		 O
i
g
a
n
c
r
G
h
t
o
r
w
l
S
a
e
s		 1
7
3
4
,		 1
4
9
4
,		 9
%
d
B
P
S
t
t
y
r
o
u
c
e
g
m
e
n
:
f
h
I
i
T
n
s
o
n
e
a
p
u
r
y		 9
2
4		 9
3
7		 %
7
l
l
C
i
i
N
i
i
t
t
n
c
a
u
r
o
n		 7
0
1		 6
1
0		 1
1
%
f
h
l
T
i
T
r
a
n
s
u
s
o
n
e
c
n
o
o
g
y		 1
0
9		 9
1		 2
0
%

Fresenius Kabi: Organic Sales Growth of 9 %

€
m		 Q
3
/
0
8
1
–		 Q
3
/
0
1
7
–		 C
h
a
n
g
e		 O
i
g
a
n
c
r
G
h
t
o
r
w
G
e
m
n
r
a
y		 3
2
3		 3
2
2		 0
%		 3
%
E
o
p
e
u
r
G
e
e
m
a
n
x
r
y		 9
7
7		 6
8
4		 %
1
7		 %
7
f
A
i
P
i
i
s
a
a
c
c
-		 2
7
5		 2
2
7		 2
1
%		 2
3
%
i
i
L
t
A
a
n
m
e
c
a
r		 3
1
5		 0
1
5		 2
9
%		 %
1
1
R
W
o		 2
0
4		 6
1
5		 3
%
1		 0
%
1
l
l
T
t
o
a
s
a
e
s		 3
1
7
4
,		 9
1
4
4
,		 6
%
1		 9
%

Fresenius Kabi: Strong EBIT Growth

€
m		 /
Q
1
3
0
8
–		 /
Q
1
3
0
7
–		 h
G
t
o
r
w
l
T
E
B
I
T
t
o
a
M
i
a
r
g
n		 2
9
0
1
6
7
%		 2
4
2
1
6
2
%		 2
0
%
B
R
i
y
e
g
o
n
:
E
o
p
e
u
r
M
i
a
g
n
r		 2
0
4
2
1.
4
%		 2
1
5
2
1.
4
%		 1
2
%
l
I
i
t
t
n
e
n
a
o
n
a
r
M
i
a
r
g
n		 1
0
8
6
%
1
7.		 8
1
6.
6
%
1		 3
3
%
d
C
C
R
&
D
t
t
o
p
o
a
e
a
n
o
p
o
a
e
r
r
r
r		 5
8
-		 5
4
-		 7
%

Fresenius Helios: Outstanding Sales Growth

€
m		 Q
3
/
0
8
1
–		 Q
3
/
0
1
7
–		 h
G
t
r
o
w
l
l
T
t
o
a
s
a
e
s		 1
5
6
8
,		 1
3
4
8
,		 1
6
%
b
l
h
d
l
f
l
i
i
i
i
t
t
e
s
a
s
e
c
n
c
p
o
o
o
r
-
(
l
d
)
i
i
i
i
i
1
t
t
<
a
c
q
u
s
o
n
s
c
o
n
s
o
a
o
n
y
r
-		 1
2
3
4
,
1
4
5		 1
3
8
4
,
0		 *
%
5

* growth rate on a like for like basis

Fresenius Helios: Excellent Earnings Development

€
m		 Q
3
/
0
8
1
–		 Q
3
/
0
1
7
–		 h
G
t
r
o
w
l
T
E
B
I
T
t
o
a
M
i
a
r
g
n		 2
1
7
8.
%
1		 0
1
1
8.
2
%		 1
5
%
b
l
h
d
l
f
l
i
i
i
i
t
t
e
s
a
s
e
c
n
c
p
o
o
o
r
-
M
i
a
g
n
r		 3
6
1
9
6
%		 0
1
1
8.
2
%
i
i
i
t
(
l
i
d
i
1
)
t
a
c
q
s
o
n
s
u
<
c
o
n
s
o
a
o
n
y
r
-		 9
-		 0

Fresenius Vamed: Strong Sales Development

€
m		 /
Q
1
3
0
8
–		 /
Q
1
3
0
7
–		 h
C
a
n
g
e
l
l
T
t
o
a
s
a
e
s		 2
9
0		 2
3
4		 2
4
%
B
D
i
i
i
s
o
n
y
v
:
j
b
i
P
t
r
o
e
c
u
s
n
e
s
s
S
b
i
i
e
r
v
c
e
u
s
n
e
s
s		 6
1
7
2
3
1		 2
1
5
0
9
1		 3
%
4
3
1
%
O
d
i
k
*
t
e
n
a
e
r
r		 2
4
2		 2
2
2		 9
%
O
d
b
k
l
*
e
o
r
r
a
c
g		 5
6
9

5
1
0		 1
2
%

* project business only ** Dec 31, 2007

Fresenius Vamed: Strong EBIT Development

€
m		 /
Q
1
3
0
8
–		 /
Q
1
3
0
7
–		 h
C
a
n
g
e
l
T
E
B
I
T
t
o
a
i
M
a
r
g
n		 1
4
8
%
4		 1
1
%
4
7		 2
7
%
i
N
t
e
n
c
o
m
e		 1
4		 1
1		 2
%
7

Financial Calendar

1
9
2
2
0
0
9		 l
R
F
i
Y
2
0
0
8
t
e
p
o
o
n
s
c
a
e
a
r
r
3
0
4
2
0
0
9		 t
R
1
2
0
0
9
t
s
t
e
p
o
o
n
q
a
e
r
u
r
r
8
5
2
0
0
9		 l
l
k
f
/
A
G
M
i
F
M
i
t
t
n
n
u
a
e
n
e
r
a
e
e
n
g
r
a
n
u
r
a
n
,
4
8
2
0
0
9		 t
h
l
f
R
1
2
0
0
9
t
s
e
p
o
r
o
n
a
3
1
1
2
0
0
9		 d
t-
R
1
3
2
0
0
9
t
s
t
r
e
p
o
r
o
n
q
u
a
r
e
r
s

Contact

  • Birgit Grund SVP Investor Relations Fresenius SE
  • Telephone: +49 6172 608-2485 e-mail: [email protected]

For further information and current news: http://www.fresenius.com

More from Fresenius SE & Co. KGaA

Declaration of Voting Results & Voting Rights Announcements 2025
Nov 17
Declaration of Voting Results & Voting Rights Announcements 2025
Nov 14
Report Publication Announcement 2025
Nov 6
Quarterly Report 2025
Nov 6
Interim / Quarterly Report 2025
Aug 6
Investor Presentation 2025
Aug 6
Declaration of Voting Results & Voting Rights Announcements 2025
Jul 4
Declaration of Voting Results & Voting Rights Announcements 2025
Jun 20
Governance Information 2025
May 23
Quarterly Report 2025
May 7
View all filings →

Talk to a Data Expert

Have a question? We'll get back to you promptly.